Polyethylene Terephthalate Prices

Polyethylene Terephthalate Prices September 2024

The polyethylene terephthalate prices in the United States for Q3 2024 reached 1217 USD/MT in September. The region experienced a significant decline following initial stability. This trend was due to weaker downstream demand, production plant restarts leading to oversupply, and decreased production costs. Moreover, the drop was compounded by falling prices of key raw materials, adding downward pressure on the pricing.

The price trend for polyethylene terephthalate in China for Q3 2024 settled at 956 USD/MT in September. The market faced a significant price decline influenced by weak downstream demand, minimal trading activity, and oversupply. The lack of urgency among buyers to restock added to market challenges. Falling raw material prices further aggravated the downturn, leading to a continued negative market sentiment.

In Germany, the polyethylene terephthalate prices for Q3 2024 reached 1220 USD/MT in September. The market saw initial price increases driven by higher feedstock prices and supply disruptions. However, the market shifted as production normalized and inventories stabilized. Moreover, the limited demand from downstream industries and cautious restocking practices contributed to the overall challenging pricing environment by quarter's end.

The price trend for polyethylene terephthalate in Saudi Arabia for Q3 2024 settled at 1165 USD/MT in September. The market exhibited mixed pricing trends. Initial price surges were driven by elevated import and feedstock costs, combined with strong sector demand. Later, prices declined as import costs dropped and feedstock prices eased, creating a volatile market environment marked by fluctuations and resilience.

Polyethylene Terephthalate Prices June 2024

The polyethylene terephthalate prices in the United States for Q2 2024 reached 1342 USD/MT in June. The region saw significant price increases due to constrained supply and higher raw material costs. Seasonal demand, particularly from the beverage industry, further intensified price pressures. Plant shutdowns contributed to supply issues, reinforcing an upward pricing trend despite stabilization efforts.

The price trend for polyethylene terephthalate in Japan for Q2 2024 settled at 1043 USD/MT in June. The market maintained overall price stability with slight upward movement driven by seasonal demand. Steady production and balanced feedstock prices helped maintain consistency, allowing the market to avoid significant volatility while catering to the ongoing needs of the packaging and beverage sectors.

In Germany, the polyethylene terephthalate prices for Q2 2024 reached 1262 USD/MT in June. The market experienced price growth, supported by higher feedstock costs and seasonal demand. Crude oil price fluctuations and OPEC’s production cuts amplified cost pressures, while increased consumption in the beverage sector during summer drove a moderate upward price trend through the quarter.

The price trend for polyethylene terephthalate in Saudi Arabia for Q2 2024 settled at 1241 USD/MT in June. The market displayed volatility, initially driven by strong festive season demand. Mid-quarter, oversupply and steady feedstock prices led to declines, but prices rebounded towards the end due to fluctuating feedstock costs and increased freight charges, creating a balanced environment.

In Brazil, the polyethylene terephthalate prices for Q2 2024 reached 1370 USD/MT in June. The market saw price increases fueled by higher feedstock costs and supply chain disruptions. Moreover, the beverage and packaging industries' seasonal demand contributed to sustained price growth throughout the quarter, showcasing consistent upward movement despite ongoing logistical challenges and market pressures.

Polyethylene Terephthalate Prices December 2023

The polyethylene terephthalate prices in the USA for Q4 2023 reached 2342 USD/MT in December. Excess inventories led to reduced prices as suppliers aimed to clear stock. Stabilization occurred later in the quarter as feedstock supplies remained steady despite uneven demand from packaging sectors.

The price trend for polyethylene terephthalate in South Korea for Q4 2023, reached 1970 USD/MT in December owing to elevated import costs. Low consumption from the packaging sectors and economic uncertainties led to a decrease in PET resin prices, despite stable market conditions without plant shutdowns.

The price trend for polyethylene terephthalate in Germany for Q4 2023, reached 2235 USD/MT in December. Producers cut back on production to control inventory levels, amid expectations of rising feedstock costs. Despite these pressures, the European market remained regulated with no major shutdowns reported.

Regional Coverage

The report provides a detailed analysis of the polyethylene terephthalate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the polyethylene terephthalate price trend. 

Global Polyethylene Terephthalate Price

The report offers a holistic view of the global polyethylene terephthalate pricing trends in the form of polyethylene terephthalate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into polyethylene terephthalate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into polyethylene terephthalate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed polyethylene terephthalate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Polyethylene Terephthalate Price

Q3 2024:

During Q3 2024, the polyethylene terephthalate market in Europe faced a downward trajectory influenced by various economic and market factors. Initially, prices were driven upward due to higher feedstock prices and supply chain disruptions linked to crude oil price volatility. However, as production levels normalized and inventories stabilized, the market saw limited demand from downstream sectors, preventing substantial price increases. Buyer reluctance to restock contributed to market stagnation, despite occasional fluctuations in feedstock costs. Additionally, Germany witnessed notable price changes reflective of regional conditions. The quarter concluded with a market environment marked by ample supply, moderate demand, and challenging economic conditions.

Q2 2024:

During Q2 2024, the polyethylene terephthalate market in Europe experienced a noticeable price increase, influenced by rising feedstock costs such as purified terephthalic acid and mono ethylene glycol (MEG). These cost pressures were compounded by fluctuating crude oil prices and geopolitical issues, including OPEC production cuts. Moreover, seasonal demand from beverage and packaging industries further tightened supply, pushing prices higher. In addition, Germany led the region in price activity, seeing steady growth throughout the period. Seasonal spikes, particularly in the latter half of the quarter, contributed to this upward trend, despite a slight year-on-year decrease and stability compared to the previous quarter.

Q4 2023:

The European polyethylene terephthalate industry exhibited a downward shift in Q4 of 2023, due to increased production prices, weak demand, and excess supply. PET producers reduced output to control inventory and maintain prices amid expectations of rising feedstock and crude oil prices. The European Commission intervened by imposing tariffs on the product’s imports from China to counteract the advantages Chinese producers gained from lower production costs, aiming to protect local manufacturers. Despite these challenges, no plant closures were reported. In Belgium, the market faced significant inventory pressure, yet demand remained high as new stocks entered the market.

This analysis can be extended to include detailed polyethylene terephthalate price information for a comprehensive list of countries.

North America Polyethylene Terephthalate Price

Q3 2024:

Throughout the third quarter of 2024, the polyethylene terephthalate market in North America witnessed a significant decline in prices, with stability seen in the early months but marked drops later in the quarter. The downward trend was fueled by weakened downstream demand, oversupply due to the resumption of production facilities, and lower production costs. Falling prices of raw material, especially for key inputs such as mono ethylene glycol (MEG) and purified terephthalic acid, further contributed to price pressure. Furthermore, Mexico witnessed the most notable price volatility. Despite the decline, there was a slight quarter-over-quarter increase, showcasing market resilience, even as MEG prices remained significantly higher than the prior year.

Q2 2024:

Throughout Q2 2024, the polyethylene terephthalate market in North America saw an upward trend due to various factors. Supply constraints, including plant shutdowns in Louisiana and Ohio, exacerbated an already tight market, while rising raw material and crude oil costs pushed prices higher. Furthermore, heightened demand, particularly from the beverage and polyethylene terephthalate packaging sectors during peak seasons, contributed significantly to the price escalation. Despite efforts to balance supply, the mismatch between production and consumption persisted, supporting sustained price growth. Additionally, the market in the U.S. experienced the most notable price movements, driven by seasonal fluctuations and continued supply limitations.

Q4 2023:

During Q4 2023, the polyethylene terephthalate industry in North America experienced fluctuations driven by mixed market conditions. Elevated demand for PET bottles was met with average to low levels of supply, while reduced downstream packaging consumption led to lower PET resin demand. In the latter half, the market saw price stabilization owing to a consistent availability of raw materials, despite variable consumption in the packaging industries.

Specific polyethylene terephthalate historical data within the United States and Canada can also be provided.

Middle East and Africa Polyethylene Terephthalate Price

Q3 2024:

In the third quarter of 2024, the Middle East and Africa polyethylene terephthalate market displayed mixed trends, with initial price increases fueled by high import costs, rising feedstock prices, and strong demand, especially from the beverage and packaging sectors. This was bolstered by high crude oil prices and substantial shipping costs. However, prices took a significant downturn later in the quarter due to low import costs and falling feedstock prices. Moreover, Saudi Arabia experienced notable price movements, showing growth compared to the previous quarter while maintaining higher prices year-over-year. The end of the quarter reflected ongoing market volatility and dynamic conditions.

Q2 2024:

In Q2 2024, the polyethylene terephthalate market in the Middle East and Africa region showed diverse trends. Prices initially rose due to increased consumption during festivals like Ramadan and Eid but declined mid-quarter due to oversupply and steady feedstock prices. Furthermore, reduced post-holiday operational activities impacted demand, particularly from polyethylene terephthalate bottle manufacturers. However, by the quarter's end, prices recovered, impacted by feedstock costs' fluctuations and rising freight costs caused by global port congestion. Moreover, Saudi Arabia mirrored the regional trends, experiencing volatility driven by seasonal demand that could not fully counterbalance the oversupply. The market concluded with moderate price increases and neutral stability.

Q4 2023:

In the MEA region, the polyethylene terephthalate industry showed mixed dynamics during the last quarter of 2023. The industry’s performance was largely dictated by crude oil and demand-supply balance. In Saudi Arabia, the PET resin market was slow, owing to an oversupply and expected lower demand from packaging sectors. Despite a generally stable market, low inventories led to bullish sentiment for PET bottles in Saudi Arabia, with no reported plant shutdowns and average supply levels maintaining a balanced market environment.

In addition to region-wise data, information on polyethylene terephthalate prices for countries can also be provided.

Asia Pacific Polyethylene Terephthalate Price

Q3 2024:

The Asia-Pacific polyethylene terephthalate market in the third quarter of 2024 faced a substantial decline in prices due to multiple influencing factors. Weak downstream demand and minimal trading activity exerted downward pressure, compounded by insufficient raw material cost support. Furthermore, a general lack of urgency among buyers to restock dampened market confidence. Oversupply emerged as production increased in anticipation of future orders that failed to materialize, adding further challenges. In addition, China experienced significant price fluctuations, aligning with the regional trend of declining prices. By quarter’s end, the regional market environment highlighted persistent challenges driven by oversupply and reduced demand.

Q2 2024:

In Q2 2024, the polyethylene terephthalate market in the Asia Pacific region demonstrated stable pricing. This was supported by consistent supply levels and balanced feedstock prices, particularly MEG and purified terephthalic acid. Furthermore, the stability in production ensured steady availability to meet the demand from key sectors like packaging and beverages, which sustained a cautious but continuous procurement pace. Additionally, Japan experienced minor price shifts impacted by the seasonal demand during the summer. Overall, prices reflected equilibrium compared to last year, with slight increases seen quarter-on-quarter, maintaining a stable market environment throughout the quarter.

Q4 2023:

In Q4 2023, the polyethylene terephthalate market in the Asia Pacific saw varying pricing trends due to multiple factors. A moderate demand and excess supply characterized the overall market, with specific regional variations. South Korea faced supply shortages owing to the rising import costs, whereas Taiwan's bearish market condition and economic uncertainties led to reduced PET resin costs. Conversely, the industry in India saw stable prices, supported by steady demand and adequate supply.

This polyethylene terephthalate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Polyethylene Terephthalate Price

Q3 2024:

The Latin American polyethylene terephthalate market in Q3 2024 saw a clear downward trend in prices, influenced by a stable initial period followed by sharp declines later. This was largely driven by weak demand and oversupply following the reopening of production plants, alongside lower production costs. Declining prices for raw materials also played a significant role in the market’s performance. Additionally, Brazil faced notable price fluctuations during the period. Although prices trended downward, the market showed a modest elevation in comparison to the previous quarter, suggesting some underlying resilience. MEG prices, however, remained elevated from the prior year, adding to the complexity of market conditions.

Q2 2024:

The polyethylene terephthalate market in Latin America, led by Brazil, experienced price increases during Q2 2024. The rise was fueled by higher feedstock costs, particularly MEG, coupled with global supply chain challenges and elevated shipping fees. Demand from downstream sectors such as food packaging and beverages also bolstered prices. Moreover, Brazil saw pronounced price volatility and consistent growth over the quarter, driven by seasonal demand and supply pressures. The upward trend in pricing remained steady through the period, highlighting a positive market environment influenced by robust demand and logistical disruptions.

Q4 2023:

The analysis of polyethylene terephthalate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Polyethylene Terephthalate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled "Polyethylene Terephthalate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition," offers an in-depth analysis of polyethylene terephthalate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing polyethylene terephthalate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Polyethylene Terephthalate Market Analysis

The global polyethylene terephthalate market size reached US$ 31.3 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 46.1 Billion, at a projected CAGR of 4.40% during 2023-2032.

• The rising need for sustainability and recyclability represents one of the key factors influencing the growth of the market across the globe. The ability of PET to be recycled, along with the increasing emphasis on sustainable materials is contributing to the market growth. According to McKinsey&Company, when consumers are asked if they care about buying environmentally and ethically sustainable products, they overwhelmingly answer yes: in a 2020 McKinsey U.S. consumer sentiment survey, more than 60% of respondents said they would pay more for a product with sustainable packaging. A recent study by NielsenIQ found that 78% of US consumers say that a sustainable lifestyle is important to them. The recyclability of PET appeals to both environmentally conscious consumers and industries looking to reduce their environmental footprint which is driving its demand.
• The increasing demand for PET in the packaging of water, soft drinks, and other beverages is acting as a major growth-inducing factor in the market. This is primarily due to the various properties of PET including strength, clarity, and good barrier properties which are driving the market growth. For instance, in February 2023, Berry Global Healthcare introduced A comprehensive bundle solution to help customers capitalize on the increasing demand for child-resistant (CRC) and temper-evident (TE) packaging for the pharmaceutical and herbal market for syrup and liquid medicines. The new Berry Healthcare bundle features seven ranges of 28mm neck PET bottles in sizes from 20 to 1000 ml and a variety of designs, with eight accompanying closures that incorporate tamper-evident and child-resistant features.
• The growth of the beverage industry especially in emerging markets is also contributing to the demand for PET. For instance, in July 2023, Amcor Rigid Packaging (AR) and Ron Rubin Winery commercialized a 100% recycled polyethylene terephthalate (rPET) wine bottle. The companies worked together to develop a screw top bottle, which features a silicon oxide barrier coating.
• The increasing preference for lightweight and durable packaging products is facilitating the growth of the market. For instance, in November 2022, Amcor Rigid Packaging unveiled a two-step lightweight technology set to remove over 50% of the material and weight in the finish of PET bottles-a development thought to produce attractive packaging, lower manufacturing costs, and reduce carbon emissions.

Polyethylene Terephthalate News

The report covers the latest developments, updates, and trends impacting the global polyethylene terephthalate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in polyethylene terephthalate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the polyethylene terephthalate industry:

• In February 2022, Alpha Packaging introduced a new Eco-line of its popular PET Packers. With lighter weight and recyclable materials, these packers work great while offering a more sustainable solution.
• In April 2023, Sonocco announced the high-barrier paper-based structure, EnviroFlex Paper Ultimate (ULT) 1.0, has received How2Recycle free qualification and has met all requirements of the Fiber Box Association’s Voluntary Standard for Repulping and Recycling. This pre-qualification comes as a result of Sonoco's ongoing efforts to develop innovative, sustainable packaging solutions.

Product Description

Polyethylene terephthalate or PET refers to a type of polyester that is commonly employed to produce fibers for clothing, containers for liquids and foods, and thermoforming applications.

Known for its recyclability, strength, and durability, PET is particularly favored in the packaging industry, notably for making water and soft drink bottles. This plastic is identified by the recycling code #1.

Polyethylene terephthalate is valued for its good barrier properties against water vapor and gases, which help to preserve the freshness and efficacy of packaged goals.

PET is also lightweight, shatter-resistant, and economical, thereby making it an attractive option for manufacturers and consumers alike. The material can be recycled multiple times, reducing its environmental footprint by allowing it to be converted into new PET products or other materials such as fibers for carpeting and apparel, thereby promoting more sustainable use of resources.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of polyethylene terephthalate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting polyethylene terephthalate price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the polyethylene terephthalate industry.